Magnesium Chloride Market Size, Share 2021 By Worldwide Industry Demand, Regional Overview, Trends Evaluation, Top Manufacture, Business Growth Strategies and Forecast to 2027

 

Market Highlights

The Global Magnesium Chloride Market is estimated to be valued at USD 212,823.3 Thousand and register a CAGR of 4.65% during the forecast period.

The use of magnesium chloride as an anti-icing agent is the primary driver of the global magnesium chloride market. The benefits associated with the consumption of magnesium chloride such as better heart health, optimized brain, muscle, and nerve function, improved bone health, low blood sugar levels, better digestive process, stronger immune system, and lower risk of developing migraines have increased their demand, which is expected to fuel the global market growth.

 

Segment Analysis

The global magnesium chloride market has been segmented on the basis of form, grade, application, and region.

The global market, on the basis of form, has been divided into liquid and flakes. The liquid segment is expected to reach a value of USD 126,218.5 thousand by the end of the forecast period. The high demand for liquid magnesium chloride is due to its extensive use in the de-icing application.

By grade, the industrial grade is projected to exhibit a CAGR of over 4% during the review period. The growth of the food grade segment is attributed to its use in the production of tofu and use as curing agent, bulking agent, curing agent of protein, fermentation assistant, and modifier in food processing.

The building materials segment is expected to witness significant growth due to the extensive use of magnesium chloride in the production of oxychloride cement. This cement has advantages over the Portland cement such as high strength, high bonding, lightweight, low coefficient of thermal expansion, low corrosion effects, abrasion resistance, excellent adhesion, flame retardancy, and good thermal insulation.

 

Market Players

Market Research Future (MRFR) recognizes Compass Minerals (US), K+S KALI GmbH (Germany), ICL (Israel), Intrepid (US), Merck KGaA (Germany), Nedmag B.V. (the Netherlands), NikoMag (Russia), DEUSA International GmbH (Germany), Skyline Chemical Corporation (US), and HuiTai Investment Co., Ltd (China) as the key players in the global magnesium chloride market.

 

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Regional Analysis

North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa are the regions covered under the scope of the report. As per MRFR analysis, Asia-Pacific was the dominant market for magnesium chloride in 2017 and is projected to continue the trend during the review period. The European market accounted for more than 24% of the global market share in 2017 owing to the high demand for magnesium chloride as an anti-icing and de-icing agent in countries such as Iceland, Greenland, Switzerland, and Norway.

 

Key Findings of the Study:

  • The Global Magnesium Chloride Market is projected to reach USD 212,823.3 thousand by 2024 at a CAGR of 4.65% during the review period of 2019 to 2024.
  • Asia-Pacific witnessed significant growth in 2017, with China holding a major share of the regional market.

 

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

 

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Email: sales@marketresearchfuture.com

 

Read More Related Article:

https://www.marketresearchfuture.com/reports/thermal-ceramics-market-9514

 

https://www.marketresearchfuture.com/reports/disinfectant-chemicals-market-9639

 

https://www.marketresearchfuture.com/reports/expanded-polypropylene-market-9694

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